Market Analyses - Dude Signals.
Besides of the Green day yesterday, Bitcoin continues to fail after being rejected again off the 40000 level. Which is keeping the price below the 9, 21 and 50 EMAs (yellow, green, blue lines). This suggests more downside in both BTC as well as most altcoins.
Bear Side :As long as price is below 39000, the trend is weak and suggests a move towards 35000. If 35000 fails to hold, the next support is 30000.
Bull Side: the 2 major resistance levels to break above are 43k level (last week's high) and 48300 (March high and 200 EMA). If price rejects off one of these resistances, it would add to the bearish case. From a structural point of view, the March high at 48300 needs to be broken above in order for the former macro-uptrend to resume.
Keep in mind that BTC in a sideways or bullish posture generally sets up the best breakout environments for altcoins.
9 EMA: Yellow
21EMA: GREEN
50 EMA:Blue
200EMA: White
